Tax Benefits Entice New Residents to Coastal Delaware

From the outside looking in, the ever-growing popularity of southern Delaware may seem strange to some. We know the secrets, of course, but to folks who have never been here or who have only passed through, it can be a mystery.

Why would small town life in the nation’s second smallest state appeal to so many people, so much so that schools are being rebuilt regularly to address overcrowding, new town halls in places like Rehoboth Beach, Millsboro and even Seaford have been or are currently being built to address the needs of a growing tax base and homes on the eastern half of the county are routinely hitting the six figure mark when changing hands?

At the end of the day, it really comes down to two main elements. People who are from here, the natives as we like to call them, know full well what a great place southern Delaware is to live and to work. But for the “non natives,” it’s really all about two main things – the beautiful beaches and the low tax rates.

Put another way – it’s the beaches and the financial capacity to enjoy them, while not seeing your hard-earned dollars disappear in the process.

When you compare Delaware’s tax structure to other states, it’s no wonder why this is one of the main reasons new residents give for wanting to move to the First State. Tax liability for Delaware residents is significantly lower than all other states in the mid-Atlantic region, most notably New York and New Jersey.

This is particularly true for retirees, and that’s why coastal Delaware has seen a huge influx of new residents from this particular demographic in the last decade or so. These folks are living on fixed incomes, and relocating to an area that has the favorable tax benefits Delaware does can indeed be significant.

Read more HERE.